⚡ Today in History

On September 14, 1960, Iran, Iraq, Kuwait, Saudi Arabia and Venezuela founded OPEC in Baghdad to coordinate oil policy. Today, Iran remains locked in a war with the United States. Brent crude has climbed above $100 a barrel for the first time since May.

Top News

AI's own builders call for a slowdown AI = 62% OF S&P 500

Worried that faster AI development could outpace safety work, Anthropic's Dario Amodei published an essay Saturday urging a slowdown in the pace of new model releases. OpenAI's Sam Altman and xAI's Elon Musk backed the call within a day. Asian markets fell Monday, with SoftBank shares down more than 10 percent and Nasdaq futures dropping as much as 1.6 percent.

Diesel hits $6 a gallon for the first time $6.05/GALLON

Renewed fighting between the United States and Iran in the Strait of Hormuz, the passage that carries a fifth of the world's oil, pushed diesel to a record $6.05 a gallon Friday, according to AAA. Regular gasoline is now the most expensive it has ever been for September, averaging $4.22 a gallon. Higher fuel costs are expected to raise prices at grocery stores nationwide.

BRICS wraps summit with a 140-point declaration

Leaders from Brazil, Russia, India, China and eight other nations met in New Delhi on September 12 and 13 for the 18th BRICS Summit. The group adopted the New Delhi Declaration, calling for a Gaza ceasefire, Palestinian statehood, and changes to global institutions including the United Nations. China will host the next summit in 2027.

Fed decides Wednesday — hike or hold

The Federal Reserve's rate-setting committee meets Tuesday and Wednesday to decide whether to raise interest rates for the first time this year. Fed Chair Kevin Warsh warned last month that inflation remains a concern, and traders now see close to even odds of a quarter-point hike. A hike would raise borrowing costs on mortgages and credit cards just weeks before the November midterms.

Russian drone hits train two miles from Poland 2KM FROM NATO BORDER

A Russian drone struck the locomotive of a passenger train near Ukraine's border with Poland on Sunday, roughly two kilometers from NATO territory. The train had been used minutes earlier by former British Prime Minister Boris Johnson and other European officials returning from a security conference in Kyiv. No injuries were reported, but the strike has raised fresh concern in Warsaw and Brussels about the war edging closer to NATO soil.

World

Houthi strikes wound civilians in southern Saudi Arabia

Yemen's Iran-aligned Houthi movement launched projectiles at civilian and economic sites in southern Saudi Arabia over the weekend, according to Saudi state media, wounding multiple people near the Yemeni border. South Korea's Foreign Ministry condemned the attack Sunday and urged the group to stop targeting civilians and shipping lanes.

Trump says fighting in Gaza has largely stopped

Aboard Air Force One Sunday, returning from meetings in Ireland, President Trump praised envoys Steve Witkoff and Jared Kushner for the ceasefire reached last October. Trump said Hamas is now willing to give up its weapons, though the group has not yet disarmed under the terms of the deal.

IMF sees 3% global growth despite the Iran war

The International Monetary Fund said global growth remains on track to reach 3 percent in 2026, even with the ongoing conflict between the United States and Iran. The fund cautioned that risks to that forecast remain high, citing energy prices and shipping disruptions in the Persian Gulf.

Cargo ship fire off China kills 20, five missing

A fire broke out aboard a cargo ship in Qingdao, in China's Shandong province, killing at least 20 people. Five others are still missing as crews search nearby waters. The cause of the fire has not been released.

Russia accuses Ukraine of hitting nuclear plant fuel trucks

Rosatom, Russia's state nuclear energy company, said Ukrainian forces struck fuel trucks near the Russian-held Zaporizhzhia nuclear plant, Europe's largest, over the weekend. Ukraine has not responded to the claim. Zaporizhzhia has been under Russian control since March 2022 and sits close to the front line.

Politics

Trump calls Fed policymakers 'clowns' before Wednesday's vote DECISION: SEPT 16

Ahead of Wednesday's interest rate decision, President Trump renewed pressure on the Federal Reserve Friday, calling members of its rate-setting committee clowns while praising Chair Kevin Warsh as trying to do the right thing. Vice President JD Vance and Treasury Secretary Scott Bessent have also urged the Fed to cut rates this month.

EPA set to loosen power plant emissions rules

The Environmental Protection Agency is expected to remove limits on carbon pollution from coal and gas power plants, according to multiple news reports. EPA Administrator Lee Zeldin is expected to announce the change at a G20 energy ministers' meeting in Houston. The rules, introduced under President Biden in 2024, required plants to nearly eliminate their emissions.

Control of Congress goes on the ballot Nov. 3 435 HOUSE SEATS

All 435 House seats and 33 Senate seats are up for election on November 3, 2026. Republicans hold narrow majorities in both chambers, and Democrats need a net gain of just three House seats to retake control.

Trump presses Zelenskyy to stop hitting Russian refineries

President Trump urged Ukrainian President Volodymyr Zelenskyy to halt long-range strikes on Russian refineries, according to reports Sunday. Ukraine's campaign against Russian fuel infrastructure has been credited with tightening global diesel supplies, adding to pressure on pump prices in the United States.

Trump weighs a bigger Mideast role for CIA's Ratcliffe

President Trump is reportedly considering elevating CIA Director John Ratcliffe's role in Middle East diplomacy, potentially alongside or in place of envoys Steve Witkoff and Jared Kushner. No final decision has been announced.

Markets

Chip stocks fall into a bear market SOX: -20% FROM JUNE

The Philadelphia Semiconductor Index has fallen 20 percent from its June peak, meeting the common definition of a bear market. The slide accelerated Monday after Anthropic, OpenAI and xAI leaders called for a slower pace of AI development. Nvidia shares have dropped from a September high of $234 to around $218.

Brent crude climbs back above $100 a barrel

Brent crude topped $100 a barrel again Monday as fighting between the United States and Iran continued in the Strait of Hormuz. Both benchmarks remain below their highs from earlier in the conflict, but traders say the risk premium is building again.

S&P 500 slips to 7,619 to start the week

The S&P 500 fell half a percent Monday to 7,619, its lowest level in about a month. The index is still up more than 15 percent from a year ago, even after this month's pullback.

Goldman Sachs: an AI slowdown could sink stocks 20%

Goldman Sachs analyst Ryan Hammond wrote that a sharp pullback in AI spending could send stock valuations back toward early 2023 levels. That shift, he said, would mean 15 to 20 percent downside for the S&P 500's current multiple. AI-related companies now account for roughly 62 percent of the index's total value.

Gold slips overnight while bitcoin climbs

Gold futures fell about seven-tenths of a percent overnight to $4,377.60 an ounce. Bitcoin moved the other way, rising to roughly $77,628, up about six-tenths of a percent.

Entertainment

Emmys air tonight with 'The Pitt' leading the pack 25 NOMINATIONS

The 78th Primetime Emmy Awards air tonight on NBC and Peacock from the Peacock Theater in Los Angeles. Mariska Hargitay is hosting. Medical drama The Pitt leads all shows with 25 nominations.

Netflix in talks for a 'KPop Demon Hunters' tour

Netflix is negotiating with concert promoters to stage a live tour built around KPop Demon Hunters, the animated film that won two Oscars earlier this year. The tour would reportedly reach arenas worldwide starting in 2027, ahead of a planned sequel.

Disney sets dates for 'Lilo & Stitch 2,' 'Incredibles 3'

Disney announced theatrical release dates for two long-awaited sequels: Lilo & Stitch 2 and The Incredibles 3. Both films follow up on some of the studio's most successful animated franchises.

Alan Ritchson and wife split after 20-plus years

Actor Alan Ritchson and his wife, Catherine Ritchson, announced they have separated after more than two decades of marriage. The couple shared the news in a joint statement, saying nothing can diminish what those years meant to them.

Toronto and New York fashion weeks overlap this week

The Toronto International Film Festival is running alongside New York Fashion Week this week, drawing overlapping crowds of actors, directors and designers. Both events continue through the coming days.